Murphy Oil (NYSE:MUR) Price Target Cut to $34.00 by Analysts at UBS Group

Murphy Oil (NYSE:MUR) had its target price trimmed by UBS Group from $38.00 to $34.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Several other research analysts also recently weighed in on the company. Piper Sandler cut their price target on Murphy Oil from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Scotiabank reduced their price objective on shares of Murphy Oil from $47.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. The Goldman Sachs Group reduced their price target on Murphy Oil from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Mizuho cut their target price on Murphy Oil from $59.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Murphy Oil has an average rating of “Hold” and a consensus price target of $40.25.

Murphy Oil Price Performance

MUR opened at $30.71 on Monday. Murphy Oil has a fifty-two week low of $29.84 and a fifty-two week high of $49.14. The firm has a 50-day moving average of $32.84 and a 200 day moving average of $36.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.65 and a current ratio of 0.71. The firm has a market cap of $4.48 billion, a P/E ratio of 9.91 and a beta of 2.18.

Murphy Oil (NYSE:MUR) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The company had revenue of $758.33 million for the quarter, compared to the consensus estimate of $759.74 million. Murphy Oil had a net margin of 14.78% and a return on equity of 9.22%. The firm’s revenue was down 21.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.59 earnings per share. On average, research analysts expect that Murphy Oil will post 3.15 EPS for the current year.

Murphy Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.91%. Murphy Oil’s dividend payout ratio is currently 38.71%.

Hedge Funds Weigh In On Murphy Oil

Hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd lifted its position in shares of Murphy Oil by 266.8% in the 3rd quarter. Covestor Ltd now owns 741 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 539 shares during the period. Reston Wealth Management LLC bought a new stake in Murphy Oil during the 3rd quarter valued at approximately $27,000. Compass Wealth Management LLC purchased a new position in shares of Murphy Oil during the 3rd quarter worth approximately $42,000. Bruce G. Allen Investments LLC raised its position in shares of Murphy Oil by 106.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,470 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 758 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in shares of Murphy Oil by 1,434.5% in the 2nd quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 1,205 shares during the period. Institutional investors own 78.31% of the company’s stock.

About Murphy Oil

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company in the United States, Canada, and internationally. It explores for and produces crude oil, natural gas, and natural gas liquids. The company was formerly known as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964.